3 Bed Semi-Detached House, Refurb/BRRR, Ipswich, IP1 4LA, £200,000

Mornington Avenue, Ipswich, IP1 4LA - 3 views - 4 months ago

Sold STC
Refurb/BRRR
ROI: 3%
~93 m²
+13 photos

ValuationFair Value

Sold Prices£168K - £355K
Sold Prices/m²£1.6K/m² - £3.9K/m²

 

 

Square Metres

~93 m²
Price/m²£2.2K/m²

Value Estimate

£200,000

 

 

End Value (After Refurb)

£236,652

Uplift in Value

+18%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£50,000

Stamp Duty & Legal Fees

£7,200

Refurb Costs

£43,322

Bridging Loan Interest

£5,250

Total Cash In

£107,522

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£236,652

Mortgage (After Refinance)

£177,489

Mortgage LTV

75%

Cash Released

£27,489

Cash Left In

£80,033

Equity

£59,163

Rent Range

£895 - £3,750

Rent Estimate

£1,233

Running Costs/mo

£1,006

Cashflow/mo

£227

Cashflow/yr

£2,722

ROI

3%

Gross Yield

7%

Local Sold Prices

50 sold prices from £168K to £355K, average is £235K. £1.6K/m² to £3.9K/m², average is £2.6K/m².

PriceDateDistanceAddressBeds 
£220K09/210 mi18, Mornington Avenue, Ipswich, Suffolk IP1 4LA3
£252K06/230 mi17, Mornington Avenue, Ipswich, Suffolk IP1 4LA3
£270K06/210 mi56, Mornington Avenue, Ipswich, Suffolk IP1 4LA3
£230K01/210 mi46, Mornington Avenue, Ipswich, Suffolk IP1 4LA3
£202K01/210 mi6, Mornington Avenue, Ipswich, Suffolk IP1 4LA3
£230K12/220.03 mi362, Norwich Road, Ipswich, Suffolk IP1 4EJ3
£245K12/220.04 mi14, Mornington Avenue, Ipswich, Suffolk IP1 4LA3
£289K02/230.12 mi34, Brookfield Road, Ipswich, Suffolk IP1 4EN3
£285K09/210.13 mi32, Silverdale Close, Ipswich, Suffolk IP1 4JF3
£230K12/200.13 mi32, Kensington Road, Ipswich, Suffolk IP1 4LD3
£240K01/210.13 mi6, Springfield Lane, Ipswich, Suffolk IP1 4EL3
£222K03/210.15 mi3, Silverdale Close, Ipswich, Suffolk IP1 4JF3
£254K06/230.15 mi7, Kensington Road, Ipswich, Suffolk IP1 4LB3
£205K01/210.15 mi7, Kensington Road, Ipswich, Suffolk IP1 4LB3
£232K11/200.15 mi97, Kensington Road, Ipswich, Suffolk IP1 4LB3
£185K12/200.15 mi99, Kensington Road, Ipswich, Suffolk IP1 4LB3
£280K01/230.16 mi10, Ashcroft Road, Ipswich, Suffolk IP1 6AA3
£355K06/230.16 mi10, Westholme Road, Ipswich, Suffolk IP1 4HH3
£168K03/210.17 mi11, Cromer Road, Ipswich, Suffolk IP1 5ER3
£198K09/210.17 mi33, Kitchener Road, Ipswich, Suffolk IP1 4DT3
£190K12/200.17 mi18, Kitchener Road, Ipswich, Suffolk IP1 4DT3
£185K04/230.17 mi24, Kitchener Road, Ipswich, Suffolk IP1 4DT3
£325K12/220.18 mi32, Dales View Road, Ipswich, Suffolk IP1 4HL3
£238K03/210.18 mi451, Norwich Road, Ipswich, Suffolk IP1 5DW3
£232K11/200.18 mi31, Princedale Close, Ipswich, Suffolk IP1 4JG3
£220K08/210.19 mi39, Springfield Lane, Ipswich, Suffolk IP1 4EW3
£290K01/230.19 mi43, Deben Road, Ipswich, Suffolk IP1 5EL3
£200K06/210.23 mi38, Richmond Road, Ipswich, Suffolk IP1 4DP3
£235K12/200.23 mi463, Norwich Road, Ipswich, Suffolk IP1 5DR3
£280K03/210.24 mi15, Highfield Road, Ipswich, Suffolk IP1 6DA3
£250K09/210.24 mi73, Cromer Road, Ipswich, Suffolk IP1 5EP3
£175K12/210.24 mi210, Bramford Road, Ipswich, Suffolk IP1 4AW3
£250K02/230.24 mi61, Richmond Road, Ipswich, Suffolk IP1 4DW3
£337K11/210.24 mi34, Kelvin Road, Ipswich, Suffolk IP1 5EH3
£190K04/210.25 mi14, Westbourne Road, Ipswich, Suffolk IP1 5EW3
£217.5K03/210.26 mi55, Sherrington Road, Ipswich, Suffolk IP1 4HT3
£180K01/210.26 mi223, Bramford Lane, Ipswich, Suffolk IP1 4ER3
£265K05/230.27 mi77, Ashcroft Road, Ipswich, Suffolk IP1 6AD3
£290K04/230.27 mi65, Ashcroft Road, Ipswich, Suffolk IP1 6AD3
£292K03/230.27 mi63, Ashcroft Road, Ipswich, Suffolk IP1 6AD3
£252.5K02/210.27 mi39, Ashcroft Road, Ipswich, Suffolk IP1 6AD3
£235K02/230.27 mi49, Ashcroft Road, Ipswich, Suffolk IP1 6AD3
£180K09/210.27 mi75, Surbiton Road, Ipswich, Suffolk IP1 4AX3
£253K01/210.27 mi71, Ashcroft Road, Ipswich, Suffolk IP1 6AD3
£305K09/220.28 mi32, Broom Hill Road, Ipswich, Suffolk IP1 4EH3
£252.3K12/220.28 mi29, Broom Hill Road, Ipswich, Suffolk IP1 4EH3
£250K06/210.28 mi28, Broom Hill Road, Ipswich, Suffolk IP1 4EH3
£183K04/210.28 mi59, Broom Hill Road, Ipswich, Suffolk IP1 4EH3
£210.5K07/210.29 mi12, Lister Road, Ipswich, Suffolk IP1 5EQ3
£191.5K08/230.29 mi26, Lister Road, Ipswich, Suffolk IP1 5EQ3

Local Rents

34 rents from £895/mo to £3.8K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£95003/240.17 miCromer Road, Ipswich, Suffolk, IP13
£1,40011/240.25 mi-3
£1,05005/240.27 miAshcroft Road, Ipswich, IP13
£1,40011/230.27 mi-3
£1,45004/240.28 miBroom Hill Road, IPSWICH3
£1,25006/240.29 miPutney Close, IPSWICH3
£3,75007/240.3 mi-3
£92504/240.3 miBramford Lane, Ipswich3
£1,12504/240.31 miBramford Lane, IPSWICH3
£1,29505/240.33 miPine Avenue, Ipswich3
£1,30010/240.33 mi-3
£95004/240.34 miKingston Road, Ipswich3
£99506/240.34 miBramford Lane, Ipswich3
£99506/240.34 miBramford Lane, Ipswich3
£1,30004/250.37 mi-3
£92501/240.38 mi-3
£90003/240.38 miBramford Road, Ipswich3
£1,00006/240.4 miBramford Road, Ipswich3
£1,10004/240.42 miChesterfield Drive, Ipswich, IP13
£1,00004/240.43 miBramford Road, IP1, Ipswich 3
£89504/240.43 miWallace Road, Ipswich, Suffolk, IP13
£1,19504/240.44 miBramford Road, Ipswich, Suffolk, IP13
£1,15004/240.46 miWallace Road, IPSWICH3
£1,27512/240.49 mi-3
£1,35012/240.49 mi-3
£1,40005/240.5 miSproughton Road, Ipswich, IP13
£1,05012/240.51 mi-3
£1,40003/240.53 miAshcroft Road, Ipswich3
£1,20012/240.54 mi-3
£1,20003/250.54 mi-3
£1,20005/240.55 miHighfield Road, Ipswich3
£1,20004/240.6 miCedarcroft Road, Ipswich, Suffolk3
£1,15002/240.6 mi-3
£1,65003/250.61 mi-3

Local Area Statistics

Population in IP1

39,363

Population in Ipswich

219,393

Town centre distance

1.65 miles away

Nearest school

0.20 miles away

Nearest train station

1.41 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+50%

Sales demand

Balanced market

Capital growth (5yrs)

+29%

Property History

Listed for £200,000

December 4, 2024

Floor Plans

Description

  • NO ONWARD CHAIN +
  • SEMI DETACHED HOUSE +
  • 3 BEDROOMS +
  • LOUNGE & DINING +
  • KITCHEN +
  • G/F CLOAKROOM & F/F BATHROOM +
  • DOUBLE GLAZED THROUGHOUT +
  • GAS CENTRAL HEATING +
  • OFF ROAD PARKING +
  • WALKING DISTANCE TO SCHOOLS SHOPS AND BUS SERVICE +

NO ONWARD CHAIN - An ideal opportunity to secure this double bay semi-detached house in need of updating. The property is located to the North West of Ipswich just off Norwich Road within walking distance to local shops schools and bus service. Arranged over two floors the property comprises enclosed porch, entrance hall, lounge & dining rooms, kitchen , G/F cloakroom, stairs to first floor leading to 3 good size bedrooms and family bathroom, further benefits include off road parking to front, gas central heating, double glazed windows throughout, established rear garden. EARLY INSPECTION RECOMMENDED. 

ENTRANCE PORCH Composite door into entrance hall, tiled flooring. 

ENTRANCE HALL Carpeted flooring, stairs to first floor, storage cupboards under stairs, door into dining room and kitchen. 

DINING ROOM 13' 8" x 10' 5" (4.17m x 3.18m) Exposed floor boards, radiator, double glazed French door to rear aspect, glass storage built in storage cabinets between dining & lounge, walk through to lounge. 

LOUNGE 13' 1" x 12' 2" (3.99m x 3.71m) Exposed floor boards, double glazed bay window to front aspect, radiator, feature brick chimney breast with fire place.  

KITCHEN 10' 1" x 7' 4" (3.07m x 2.24m) Wall & base units with work tops, 2 ring gas hob, inset enamel sink with hot & cold mixer tap, plumbing for washing machine, vinyl floor covering, radiator, door way rear lobby area. 

REAR LOBBY Carpeted flooring, double glazed door to side aspect, door through to Cloakroom. 

CLOAKROOM Low level WC, double glazed window to rear aspect, vinyl floor covering. 

STAIRS Carpeted stairs & landing, double glazed window to side aspect at top of stairwell, storage cupboard doors to bedrooms and bathroom. 

BEDROOM 1 13' 1" x 12' 3" (3.99m x 3.73m) Exposed floor boards, double glazed bay window to front aspect, radiator. 

BEDROOM 2 13' 8" x 10' 4" (4.17m x 3.15m) Carpeted flooring, double glazed window to rear aspect, radiator. 

BEDROOM 3 10' 1" x 7' 6" (3.07m x 2.29m) Exposed floor boards, double glazed window to rear aspect, radiator, wall mounted Baxi combination boiler, loft hatch. 

BATHROOM Comprises low level WC, wash hand basin with storage cupboard under, bath with mixer shower attachment,
double glazed window to front aspect, chrome heated towel rail. 

OUTSIDE Off road parking to front side passageway leading togate at the rear of the garden leading to fenced off storage area, further gate into garden with flower & shrub borders, palm tree, wooden workshop, steps up to rear deck area accessed via rear lobby & dining room. 

COUNCIL Ipswich Borough Council
Council Tax Band (C) £2,003.60 

NEAREST SCHOLLS Springfield infant and primary schools, Westbourne Academy. 

SERVICES We understand all mains services are connected. 

CONSUMER PROTECTION REGULATIONS 2008 Your Ipswich Ltd has not tested any electrical items, appliances, plumbing or heating systems and therefore cannot testify that they are operational. These particulars are set out as a general outline only for the guidance of potential purchasers or tenants and do not constitute an offer or contract. Photographs are not necessarily comprehensive or current and all descriptions, dimensions, references to condition necessary permissions for use and occupation and other details are given in good faith and believed to be correct but should not be relied upon as statements of, or representations of, fact. Intending purchasers or tenants must satisfy themselves by inspection or otherwise as to the correctness of each of them. We have taken steps to comply with Consumer Protection Regulations 2008, which require both the seller and their agent to disclose anything, within their knowledge, that would affect the buying decision of the average consumer. If there are any aspects of this property that you wish to clarify before arranging an appointment to view or considering an offer to purchase, please contact us and we will make every effort to be of assistance.

Your Ipswich Ltd, as part of their service to both vendor and purchaser, offer assistance to arrange mortgage and insurance policies, legal services, energy performance certificates, and the valuation and sale of any property relating to any purchaser connected to this transaction. Your Ipswich Ltd confirms they will not prefer one purchaser above another solely because he/she has agreed to accept the offer of any other service from Your Ipswich Ltd. Referral commission (where received) is in the range of £60 to £200.

Agent Details

Your Ipswich, Ipswich

01473 943856

Next Steps?

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